HomeMy WebLinkAboutOrdinance 110 PREAHBLE TO ORDINANOE NUMBER
Being an Ordinance entitled "An Ord/aan~e "authorizing
the sale by the City Treasurer of $ .~.~s,~mergenoy Debt
Certificate."
Whereas owing to the excessive delinquency in the receipts
from taxes and other sources, the receipts from taxes and
other sources have for such unforseen causes become lnsuffi-
cient fo: the ordinary expenses of the City and the Oity is
without funds to ca~ry on and pay the cost of City Government.
THIS COUNCIL, hereby and under this preamble declares
that an emergency exists for the immediate preservation of
the public peace and safety and that in order to promptly
meet such emergency it is necessary to pass Ordinance No.
as an emergency ord~ammce.
Offered by
Seconded by/~~~..
Secre tary- ~o. the- iCoUncil
Mayo:: ..........
ORDINANCE NUMB~ / / 0
ORDINANCE AUrSORIZlNG TM SAm CITY
$, ~.~ O, ~ E~R~NOY DEBT CERTIFICA~.
~e Oity of Ool~bia Heights does O~dain:
Section 1. ~t the Oi$y Oo~cil of ~e Oity of Ool~bim
~ights, Mi~eaota, does hereby authorize the sale by the Oity
Treas~e= of $ _~, ~.Eme=gency De~ Oe=tificate, to be dated
the~day of...: ~. ~.., 1~33, to bear inte=est at the =~te of
s~x per cent per ~n~, .interest to be payable at the ~t~ity
o~ said Oe~tific~e, to be in n~be= one (1), ~d sh~l be payable
as to both p=incip~ ~d i~e~est .mt the Oent=~ Nation~
and sh~l ~e on~ /~ ,
~at said certificate sh~l be in subst~ti~ly the
fo=m:
UNITED STATES OF AUm. RXOA.
STATE OF MINNESOTA
COUNTY OF ANOKA
OITY OF COLUMBIA HEIGHTS
No. 1 $ . ~ o o~ .~-o
This is to certify that the Olty of 0olumbia Heights, in
the Cowry of Anoka ~ State of Mi~esotm, is i~ebted to and
for v~ue. r~oeived h~reby pr~mi~s t9 pay to the beare~ here~
on the.. 4.~day of ~1~3~, the s~ of $ ~oO.
at the OSntr~ National B~,'.~th interest thereon'-~f:om.t~'')
date hereof ~til paid at the rate of six per cent per ~ ~o~
presentation and surrender of this certificate~
~is ce~tificate fo:$ ~.o~., ~is issued by said City of
Ool~bia eights, ~esota, ~ .provide for temporary defici~cies
in the revenues of said Oity, the receipts from taxes and other
sources ~ving from ~forseen dauses become ins~fiol~t for
ordinary e~enses of the ~ity ~dis issued ~rs~t to the
of the said Oity and the Constitution ~ laws of the State of
Hinnesota there~to enabling ~d In f~l oonfo~ty therewith,
in ~cordanoe with the p~ovisions of O~~oe N~ber .
It is hereby Certified ~d ~cited that ~1 acts, conditions
and things required by the ~rte~ of said City ~ by the
Oonsti~tion and laws of the State of Mi~esota, to ~ve been
done, to have happened and to ~ve been performed precedent to
and in lss~nce of this certificate ~ve been done, ~ve ~ppen~
~d have been perfo~ed in re,ar and due fo~, times a~
and t~t this certificate, together with all othe~ i~eb~e~ess
of the said Olty outst~ding on the date he,eof ~es not exceed
~y cons2~tion~, statutory or charter li~tation of indebte~ess.
In Witness whereof, said 0i~y of Ool~ia Heights, Anoka
Oo~ty, Hi~esota, by its 0o~cil, ~ caused this certificate
to be executed in its be~lf by the Mayo= ~d 0ity M~ager,
and co~tersi~ed by the City clerk, ~ se~ed with its official
seal, ~d~as ,ca, ed this certificate to be dated as of ~he.
day of~ .~~ .... ,1933.
Section ~. T % this certificate sha~ be executed in behalf
of said City by the ~yor a~ Otty M~e~, ~ co~te~si~ed
by the City Clerk, a~ se~e~ with officl~ seal of sai~
and the f~l faith, credit an~ reso~ces of said City shall be
and hereby are irrevocably pledge~ to %he prompt ~ f~l pa~ent
of both p~incipal a~.lntereSt of sai~ certificate when it becomes
Section 3. That the City ~reasueer be and she hereby is authorized
and directed~ to sell said certificate at not lessthan pa~ valuer
and accrued interest.
Section 4. That this Council hereby declares that an emergency
exists for the prompt issuance of saidEmergency Debt Gertificate
owing to the fact that the receipts from t~xes and other sources
have from unforseen causes become,insufficimnt for the ordinary
expenses of the City.
Section 5. That this ordinance being necessary for the immediate
preservation of the public peace, health and safety is hereby
declared to be an emergency ordinance and shall take effect
immediately upon its
Passed by the Council September 19, 1933.